NICE (NASDAQ:NICE) Price Target Raised to $334.00 at Citigroup

NICE (NASDAQ:NICE) had its target price lifted by Citigroup from $330.00 to $334.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

NICE has been the topic of several other research reports. Barclays cut their target price on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Northland Securities reduced their price objective on shares of NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of NICE in a research report on Thursday, October 3rd. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price target on shares of NICE in a report on Friday, August 16th. Finally, JMP Securities reiterated a “market outperform” rating and set a $300.00 price objective on shares of NICE in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.57.

NICE Stock Performance

Shares of NICE stock opened at $172.62 on Wednesday. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.40 and a beta of 1.04. NICE has a 52-week low of $151.52 and a 52-week high of $270.73. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $172.93 and its 200 day moving average is $178.02.

NICE (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. The business had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. NICE had a return on equity of 15.48% and a net margin of 16.11%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $1.63 EPS. On average, sell-side analysts anticipate that NICE will post 8.58 EPS for the current fiscal year.

Institutional Trading of NICE

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. raised its holdings in shares of NICE by 10.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,538 shares of the technology company’s stock worth $922,000 after purchasing an additional 344 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of NICE in the 1st quarter valued at about $813,000. Avantax Advisory Services Inc. purchased a new stake in shares of NICE in the first quarter worth about $298,000. ProShare Advisors LLC acquired a new stake in NICE during the first quarter worth about $313,000. Finally, Blair William & Co. IL raised its position in NICE by 22.9% during the first quarter. Blair William & Co. IL now owns 5,873 shares of the technology company’s stock valued at $1,531,000 after acquiring an additional 1,096 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

About NICE

NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform; Enlighten, an AI engine for the customer engagement market; and smart self service enable organizations to address consumers' needs; and journey orchestration solutions that empower organizations to connect and route customers to deal with the customer's request, and connects them using real time AI-based routing.